SBA Communications Co. (NASDAQ:SBAC) Position Trimmed by Raymond James Trust N.A.

Raymond James Trust N.A. lowered its stake in SBA Communications Co. (NASDAQ:SBAC) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,571 shares of the technology company’s stock after selling 132 shares during the period. Raymond James Trust N.A.’s holdings in SBA Communications were worth $619,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bayesian Capital Management LP acquired a new stake in shares of SBA Communications during the first quarter worth $715,000. Janus Henderson Group PLC increased its stake in SBA Communications by 1,305.8% in the 1st quarter. Janus Henderson Group PLC now owns 224,985 shares of the technology company’s stock worth $48,732,000 after purchasing an additional 208,981 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in SBA Communications by 16.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,781 shares of the technology company’s stock worth $356,000 after buying an additional 252 shares during the period. California State Teachers Retirement System lifted its stake in SBA Communications by 1.2% during the first quarter. California State Teachers Retirement System now owns 176,380 shares of the technology company’s stock valued at $38,222,000 after buying an additional 2,043 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of SBA Communications by 105.4% in the first quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock worth $1,144,000 after buying an additional 2,709 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling

In related news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The trade was a 23.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

SBAC has been the subject of several research analyst reports. TD Cowen upped their price target on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Royal Bank of Canada lifted their price target on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Raymond James increased their price objective on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their target price on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Trading Up 2.4 %

Shares of NASDAQ:SBAC opened at $225.98 on Tuesday. The stock has a market capitalization of $24.30 billion, a PE ratio of 35.64, a P/E/G ratio of 0.75 and a beta of 0.68. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The firm has a fifty day moving average price of $233.84 and a 200 day moving average price of $217.65.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same quarter last year, the company posted $3.34 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.